The building, 8 Canada Square, is fully owned by Qatar Investment Authority, with Canary Wharf Group as development partner. The design competition was won by world-renowned architectural practice Kohn Pedersen Fox, which will now work with a project team across design, engineering, planning and delivery to repurpose the building – in what is one of the largest redevelopment projects in the world.

The project is set to begin in 2027, following the expiry of global banking institution HSBC’s current lease. The 1.1 million sq ft building will include best-in-class workspaces, leisure, entertainment, education, and cultural attractions.

With high sustainability credentials, excellent transport links, and amenities, the redevelopment will offer an appealing proposition for businesses within 8 Canada Square, with a reported 67.2 million people visiting the business hub last year. The plans will enable a new publicly accessible route between the adjacent Elizabeth line station and Canada Square Park, as well as, for the first time, offering views to the public across London from Canary Wharf. 

The investment from Qatar Investment Authority to transform 8 Canada Square is an example of the sovereign fund’s vision for multi-use real estate of the future, ensuring that the building has high ESG credentials and meets the changing requirements of business over the long term, including a recognition of increased home and remote working.

Shobi Khan, chief executive of Canary Wharf Group, said: “We look forward to working with Qatar Investment Authority on 8 Canada Square to deliver a building of outstanding design, engineering and sustainability standards.

“This redevelopment is another step in Canary Wharf’s evolution into a vibrant mixed-use neighbourhood offering workspace, retail, homes, leisure and amenities all in one location – a true 15-minute city.”

Elie Gamburg, design principal at Kohn Pedersen Fox, said: “We’re extremely excited to collaborate with Qatar Investment Authority and Canary Wharf Group to reimagine the single-use office building as a blueprint for the highly sustainable, mixed-use building of the future.

“This transformation embodies the ethos behind much of our work. We see it as an integral part of the evolution of today’s single-use neighbourhoods into vibrant mixed-use neighbourhoods of tomorrow – an evolution of which Canary Wharf Group is already leading the way.”

Canary Wharf Group and Qatar Investment Authority will be working with the London Borough of Tower Hamlets and the appointed team to develop plans and submit a planning application.